Repros Therapeutics, Inc. (RPRX)

[genisi]

Update from CIBC Biotechnology & Specialty Pharma Conference

Provided more details on ph2/3 fibroid study, which showed that patients on Proellex had similar scores on UFS-002 "symptom severity" and "concern" scales to historical disease-free patients.
Following meeting with FDA last month, plan to pursue chronic treatment with 4-month dosing followed by drug holiday to allow menstruation.
Reported additional interim data from ongoing ph.IIa endometriosis study, which showed 95% pain-free days for women on the 50mg dose (vs. 70-75% for women on Lupron).
Plan Androxal partnership in near term, hinted that it would be more likely global (vs. ex-US. only).
Bottom Line: Based on Proellex's clinical profile and market potential, we believe RPRX is undervalued on a risk/reward basis.